ABSTRACT

U.S.-European Union Trade Relations: Issues and Policy Challenges [Updated March 17, 2006]   [open pdf - 87KB]

"The United States and European Union (EU) share a huge and mutually beneficial economic partnership. Not only is the U.S.-EU trade and investment relationship the largest in the world, it is arguably the most important. Agreement between the two economic superpowers has been critical to making the world trading system more open and efficient. Given a huge level of commercial interactions, trade tensions and disputes are not unexpected. In the past, U.S.-EU trade relations have witnessed periodic episodes of rising trade tensions and even threats of a trade war, only to be followed by successful efforts at dispute settlement. Resolution of U.S.-EU trade disputes has become increasingly difficult in recent years. Part of the problem may be due to the fact that the U.S. and the EU are of roughly equal economic strength and neither side has the ability to impose concessions on the other. Another factor may be that many bilateral disputes now involve clashes in domestic values, priorities, and regulatory systems where the international rules of the road are inadequate to provide a sound basis for effective and timely dispute resolution."

Report Number:
CRS Issue Brief for Congress, IB10087
Author:
Publisher:
Date:
2006-03-17
Series:
Copyright:
Public Domain
Retrieved From:
United States Diplomatic Mission to Italy: http://italy.usembassy.gov/english/
Format:
pdf
Media Type:
application/pdf
URL:
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